Mortgage Applications Fall
Friday, October 30, 2009 | Add a comment
According to the Mortgage Bankers Association, the number of Mortgage applications recieved fell last week, falling 12.3 percent compared to last week.
Most of the decline was in refinances, which fell 16.2 percent and the purchase index declined 4.8 percent. Except for 15-year rates, mortgage rates were down slightly:
- 30-year fixed-rate mortgages decreased to 5.04 percent from 5.07 percent.
- 15-year fixed-rate mortgages increased to 4.53 percent from 4.51 percent.
- 1-year ARMs decreased to 6.79 percent from 6.86 percent.
